A close below 10550 would put this scenario on shaky ground . In that case we can expect Nifty to correct to below 10400 levels for a wave ii and then resume a wave iii. Correction from 8972 to 7903 in 2016 which was a wave 2 was a simple ziz zag . So by guideline of alteration we should expect a triangle or a combination i.e sideways correction for wave 4 . So current count making a flat/combination/triangle correction for wave 4 is preferred count and more ever price correction to 38.2% has already happened in Jan - Feb so now time is doing a correction .